BREAKING: Ex-NNPC boss Yakubu loses bid to retrieve forfeited $9.8 million

BREAKING: Ex-NNPC boss Yakubu loses bid to retrieve forfeited $9.8 million

Andrew Yakubu, a former Managing Director of Nigerian National Petroleum Corporation, has lost an application seeking to stop the forfeiture of his $9.8 million seized by the Economic and Financial Crimes Commission to government.

Premium Times reports that a Federal High Court in Kano dismissed the application filed by Ahmad Raji, a counsel to Yakubu.

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Presiding judge Justice Zainab Abubakar said the court, contrary to Raji’s argument, had jurisdiction to hear the case.

She also ruled that the EFCC was within its rights as stated in Section 29 of its Act to seek for the order of interim forfeiture.

Justice Abubakar also noted that that the application seeking to set aside the case lacked basic legal framework.

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NAIJ.com recalls that a court ordered that the $9.8 million seized from Yakubu’s house in Kaduna be forfeited temporarily to the federal government while the case is under investigation.

Yakubu is presently being prosecuted by the EFCC for the huge which was found in his house in Southern Kaduna on February 2.

Watch this NAIJ.com TV video of former NNPC group managing director Andrew Yakubu in court over fraud allegations

Source: Naij.com

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